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See how verdicts work2-bedroom flat · TR18 2TB
No longer listedListed 671 days
Opportunity summary
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About
A two double bedroom apartment on the second floor with a Juliette balcony.
Facing south, the apartment comprises 64sq metres, has good natural light and sunshine and is close to the train and bus stations and the main shopping street in Penzance.
The accommodation consists of an entrance hall with two storage cupboards, two double bedrooms (one with a double, mirrored fitted wardrobe), a large living room, fitted kitchen and bathroom.
It has been well maintained by one owner since it was built with fitted carpets throughout. All windows are double-glazed and, with only one outside wall, it has an EPC at the top end of Band C.
Built by McCarthy & Stone, Trafalgar Court contains 38 apartments on 4 floors with a lift to each other.
Residents have the right to use the communal lounge, laundry room, garden, guest suite, a library and games room.
Support is provided via the Development Manager during the working day and an emergency 24 hour Careline services though contact points in each room of the apartment and one for personal use.
The service charge includes the costs of many services normally billed seperately including water and sewerage, buildings insurance, the gate entry system, the house manager and the Careline 24hour emergency support, the maintenance of the exterior of the building, its grounds, gardens and window cleaning, the cost and use of all internal communal areas including its lighting & heating, laundry room equipment, lift maintenance and refuse disposal.
The sale is not dependant on a chain, carpets are included and furniture is available to purchase if required.
A condition in the lease is that all residents must be over the age of 60 years old, in the case of a couple, one over 60, and the other more than 55 years old.
Lease detail, 125 year lease created 2004. Maintenance/service charge approx £3000 per annum Ground rent approx £400 per annum. Front door into: Entrance Hall Night storage heater.
Door to electric cupboard.
Door to walk-in storage cupboard housing boiler, door to: Living Area 5.33m x 3.18m Night storage heater, fireplace with ornamental wooden surround, Upvc large window to front with Juliette balcony, emergency pull cord, double doors to: Kitchen 2.13m x 2.2m Upvc window to front, sink and drainer, space for fridge and freezer, built-in electric hob with extractor above, built-in oven, electric wall mounted heater.
Emergency pullcord. Bathroom 1.68m x 2.06m Wall mounted heater, bath with shower over and pull bars. Basin with storage below, w/c, extractor over.
Bedroom 2 2.77m x 3.66m Upvc window to front, emergency pull cord. Wall mounted electric heater.
Bedroom 1 3.89m x 2.82m Upvc window to front, emergency pull cord, night storage heater, sliding mirrored doors to built-in wardrobe.
Outside Communal outside area, paved, gravel seating area, nice view of St. Michael's Mount. Council Tax: Band C. Services: Electric, mains water and drainage.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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